iLembe Entrepreneur competition returns, budding businesses invited to enter

The iLembe Chamber of Commerce Entrepreneur Competition is back, giving 20 local SMMEs a chance to hone their entrepreneurial skills.

In a Covid-19 affected 2020, the programme honoured 20 past finalists as part of its 10th anniversary celebrations.

This year the competition is back in its original format and 20 SMMEs have the opportunity to gain direct mentorship and support from top local business leaders.

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The programme receives the continued support of Enterprise iLembe, Airports Company South Africa (KSIA), The North Coast Courier, Siza Water and ENGIE Peakers Operations.

Following the official launch on Tuesday (which was live on the Courier Facebook page), entrepreneurs have six weeks to enter.

Businesses must meet 4 qualifying criteria: Be located in the iLembe District, with more than a year of operation, a turnover of less than R6 million annually and with the business owner personally involved.

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“There is scope for more than one person to join from a business, assuming they are partners in the enterprise,” said iLembe Chamber of Commerce CEO, Cobus Oelofse.

Once the finalists have been selected, they will join a 9 week programme co-designed by the University of KwaZulu-Natal (UKZN) and USA-based Massachusetts Institute of Technology (MIT).

“We are really concerned with the low level of entrepreneurship in South Africa, it is one of the lowest in the world. This programme seeks to promote business growth and entrepreneurial skills in our community and country,” said Dr Simon Taylor from the UKZN graduate school of business and leadership.

This takes the form of tuition and associated exercises designed to help the emerging entrepreneurs.

There will be 8 assignments that lead the SMMEs to create a functional business plan as well as developing a corporate identity.

The finalists will also learn presentation skills and receive a psychometric assessment to further clarify their skillset.

“Over the past 10 years, 228 finalists have participated in The Entrepreneur programme – with participants reporting a 50% growth in revenue. They have also created 261 new jobs at an investment of just over R2 520 per job created,” said Oelofse.

Previous winners and finalists have excelled following participation in the programme.

Welile Gumede from Azowel Projects in Maphumulo placed first in the UKZN’s Champions Programme, with shisanyama and butchery owner Joyce Ncanana also competing.

Furthermore, Welile and Patricia Schroder (Reclite SA) were finalists in the Fair Lady/Santam Woman of the Future event, with Patricia being awarded the accolade in 2018.

To enter the competition, candidates need to complete an application form that can be downloaded from The Entrepreneur website (theentrepreneur.net.za).

Entry forms are also available from the iLembe Chamber offices.

For more information contact Sakhile Khumalo at 087 354 6343 or email him at sakhile@ilembechamber.co.za.